The Dow Market Happenings For Thursday, May 18, 2017

There are no Dow stocks at 52 week highs. Dow stock 52 week lows include General Electric (GE) and Verizon (VZ).

The Market

Premarket today, the Dow was indicated to open down -53 points.

Wednesday the Dow was down -372.82 (-1.78%) at 20,606.93.

Year-to-date the Dow is up +4.27%.

There were 5 Dow stocks up Wednesday.

The Dow stock winners Wednesday were led by UnitedHealth (UNH) +0.44% and Travelers (TRV) +0.27%.

The Dow stock losers Wednesday were led by Goldman Sachs (GS) -5.27% and JPMorgan (JPM) 3.81%.

Cisco Systems (CSCO -1.40%) slumped 8% in after-hours trading after it said its sees Q4 adjusted EPS of 60 cents-62 cents, below consensus of 62 cents.

Wal-Mart (WMT +0.01%) reported Q1 EPS of $1.00, better than consensus of 96 cents, although Q1 revenue of $117.54 billion was below expectations of $117.74 billion.

European stocks are lower and Asian markets ended lower.

The national average price of gasoline is up two-tenths of a cent at $2.338 per gallon.

Earnings Reports.

Nike (NKE) reported earnings on 3/21/2017 after the market close of $0.68, beating estimates calling for $0.524 per share.

JPMorgan (JPM) reported earnings on 4/13/2017 before the market open of $1.65, beating estimates calling for $1.512 per share.

Johnson & Johnson (JNJ) reported earnings on 4/18/2017 before the market open of $1.83, beating estimates of $1.767 per share.

Goldman Sachs (GS) reported earnings on 4/18/2017 before the market open of $5.15, missing estimates calling for $5.34 per share.

UnitedHealth (UNH) reported earnings on 4/18/2017 before the market open of $2.37, beating estimates of $2.18 per share.

IBM (IBM) reported earnings on 4/18/2017 after the market close of $2.38, beating estimates calling for $2.341 per share.

American Express (AXP) reported earnings on 4/19/2017 after the market close of $1.34, beating estimates calling for $1.276 per share.

Travelers (TRV) reported earnings on 4/20/2017 before the market open of $2.16, missing estimates calling for $2.409 per share.

Verizon (VZ) reported earnings on 4/20/2017 before the market open of $0.95, missing estimates calling for $0.977 per share.

Visa (V) reported earnings on 4/20/2017 after the market close of $0.86, beating estimates calling for $0.789 per share.

General Electric (GE) reported earnings on 4/21/2017 before the market open of $0.21, beating estimates calling for $0.17 per share.

3M (MMM) reported earnings on 4/25/2017 before the market open$2.16, beating estimates calling for $2.069 per share.

Caterpillar (CAT) reported earnings on 4/25/2017 before the market open of $1.28, smashing estimates calling for $0.618 per share.

Dupont (DD) reported earnings on 4/25/2017 before the market open of $1.64, beating estimates of $1.383 per share.

Coca Cola (KO) reported earnings on 4/25/2017 before the market open of $0.43, missing estimates calling for $0.438 per share.

McDonald’s (MCD) reported earnings on 4/25/2017 before the market open of $1.47, beating estimates calling for $1.318 per share.

Boeing (BA) reported earnings on 4/26/2017 before the market open of $2.01, beating estimates of $1.914 per share.

United Technologies (UTX) reported earnings on 4/26/2017 before the market open of $1.48, beating estimates calling for $1.387 per share.

Procter & Gamble (PG) reported earnings on 4/26/2017 before the market open of $0.96, beating estimates of $0.936 per share.

Intel (INTC) reported earnings on 4/27/2017 after the market close of $0.66, missing estimates calling for $0.672 per share.

Microsoft (MSFT) reported earnings on 4/27/2017 after the market close of $0.73, beating estimates calling for $0.719 per share.

Exxon Mobil (XOM) reported earnings on 4/28/2017 before the market open of $0.95, beating estimates calling for $0.909 per share.

Chevron (CVX) reported earnings on 4/28/2017 before the market open of $1.41, smashing estimates of $0.869 per share.

Merck (MRK) reported earnings on 5/2/2017 before the market open of $0.88, beating estimates of $0.847 per share.

Pfizer (PFE) reported earnings on 5/2/2017 before the market open of $0.69, barely beating estimates calling for $0.6819 per share.

Apple (AAPL) reported earnings on 5/2/2017 after the market close of $2.10, beating estimates calling for $2.060395 per share.

Disney (DIS) reported earnings on 5/9/2017 after the market close of $1.50 per share.

Home Depot (HD) reported earnings on 5/16/2017 before the market open of $1.67, beating estimates calling for $1.633 per share.

Cisco (CSCO) reported earnings on 5/17/2017 after the market close of $0.60, beating estimates calling for $0.5899 per share.

Wal-Mart (WMT) reports earnings on 5/18/2017 before the market open.

Today’s Featured Dow Stock

3M (MMM)

3M (MMM) is up +9.11% year-to-date.

Financial Calendar

0830 ET Weekly initial unemployment claims expected +4,000 to 240,000, previous -2,000 to 236,000. Weekly continuing claims expected +32,000 to 1.950 million, previous -61,000 to 1.918 million.

0830 ET May Philadelphia Fed business outlook survey expected -3.5 to 18.5, Apr -10.8 to 22.0.

0830 ET USDA weekly Export Sales.

1000 ET Apr leading indicators expected +0.4%, Mar +0.4%.

1000 ET Treasury Secretary Steven Mnuchin testifies before the Senate Banking Committee.

1100 ET Treasury announces amount of 2-year T-notes (previous $26 billion), 2-year floating-rate notes (previous $17 billion), 5-year T-notes (previous $34 billion) and 7-year T-notes (previous $28 billion) to be auctioned May 23-25.

1300 ET Treasury auctions $11 billion of 10-year TIPS.

1315 ET Cleveland Fed President Loretta Mester speaks to the Economic Club of Minnesota.

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